Support the Mission

If you have a Donor-Advised Fund, the information below will help you complete your gift to CSCOE. Our Advancement team welcomes your questions. Please contact Advancement Coordinator Connor Magee at (402) 490-9723.

CSCOE’s Federal Tax ID Number: 47-3560859

Legal Name/Address:
Catholic Schools Center of Excellence
6600 France Avenue South, Suite 640
Minneapolis, MN 55435

Per IRS regulations, Donor-Advised Funds cannot be used to make pledge payments.

Giving appreciated assets can be a very tax-efficient way to support CSCOE. Its many benefits include:

• Receiving a charitable deduction. If you have owned the asset for over a year, you can deduct its fair market value.
• Eliminating capital gains tax. When you give appreciated stocks directly to CSCOE, you may avoid paying capital gains tax — potentially saving up to 30% compared to selling the asset first and donating cash. Your specific tax savings will vary.
• Avoiding the Medicare surtax. When you give securities, you can bypass the 3.8% Medicare surtax on investment income.
• Resetting your cost basis. Give appreciated stock shares and then repurchase the stock at today’s price to reduce future capital gains exposure.
• Preserving your cash flow. When you give securities instead of cash, you retain liquidity for other financial needs.
• Advancing CSCOE’s mission. Your gift supports a sustainable, “best-in-class” model for preschool-8th grade Catholic education.

How to Transfer Securities to CSCOE

Please include a note with your name to accompany the stock transfer. We will let you know as soon as Baird notifies us about the stock transfer. We will follow up with a thank-you letter/tax receipt with your gift details.

Baird Wealth Management—The Jandric Antkowiak Group
30 E 7th Street, Suite 2450
St. Paul MN 55101
Attn: Lynn L. Kittelson, Sr. Client Specialist
lkittelson@rwbaird.com

(651) 365-2184 (work); (612) 719-8599 (cell)

Account Name: Catholic Schools Center of Excellence

Account Number: 83139957

DTC Participant #: 0547

When you give through an IRA qualified charitable distribution (QCD), you benefit Catholic schools as well as lower your taxable income.

If you are age 70½ or older, you can give up to $100,000 directly from your IRA to CSCOE. You will not pay taxes on any distribution you make to CSCOE, and you will not receive an income-tax deduction. Giving in this way reduces your taxable income, even if you do not itemize deductions.

In addition, it can count toward satisfying your required minimum distribution (RMD) for the year.

How to Make a Qualified Charitable Distribution

Contact your IRA plan administrator and request that a “qualified charitable distribution” be made from your account to “Catholic Schools Center of Excellence.” Give your plan administrator CSCOE’s tax ID and address:

CSCOE’s Federal Tax ID Number: 47-3560859

Legal Name/Address:
Catholic Schools Center of Excellence
6600 France Avenue South, Suite 640
Minneapolis, MN 55435

Keep Your Records

CSCOE will provide an acknowledgement that you can use to verify your contribution as a qualified charitable distribution and show that your gift qualifies as a tax-free distribution from your IRA. You cannot claim a separate income-tax charitable deduction for your gift. However, the IRA withdrawal to CSCOE is tax-free because it is not included in your adjusted gross income.

QCD Eligibility Requirements

The distribution must be made from your IRA directly to CSCOE. It cannot be made payable to you.

You must be age 70 1/2 or older at the time the distribution is made.

The distribution must be made from an Individual Retirement Account (IRA), not from any other types of retirement plans, such as 401(k) or 403(b). It may be possible to make a tax-free transfer from those types of account to an IRA, from which a charitable rollover can be made. Ask your financial advisor for details.

Many employers match charitable gifts given by their employees (and retirees and/or spouses). Find out if your company has a matching-gift program by using the tool below.

Did you know that thousands of companies offer payroll giving programs that allow you to donate automatically from your paycheck and make a difference each month?
That means you can make a difference for nearly 35,000 students in Minnesota Catholic elementary schools every month – automatically.

Through your estate, you can give a more impactful — even transformational — gift after your life than you may ever have dreamed you could give. Through a planned gift (bequest, beneficiary designation, charitable gift annuity, or charitable remainder trust), you can give in a way that costs you nothing during your lifetime.

Estate Gift
The easiest way to give a legacy gift to CSCOE is in your personal will or trust. Here is some sample legal language to use:

“I give and bequeath the sum of [X] dollars to Catholic Schools Center of Excellence, 6600 France Avenue South, Suite 640, Minneapolis MN 55435.”
Or
“I give, devise, and bequeath (description of asset) to Catholic Schools Center of Excellence, 6600 France Avenue South, Suite 640, Minneapolis MN 55435.”

Name CSCOE as an IRA Beneficiary
By giving your IRA to CSCOE, your estate will receive a 100% charitable deduction and will avoid income taxes on those assets. By comparison, if you left your retirement plan to children or grandchildren, those assets could result in substantial income taxes.

Charitable Gift Annuity
A charitable gift annuity (CGA) is essentially a contract between a donor and a charity.

It is an agreement in which you make an irrevocable gift to a charity, and the charity promises to pay you (or another beneficiary) a fixed amount for life. The payment amount is established when the gift is made and never changes, regardless of investment performance. When the annuitant dies, the remaining funds belong to the charity to support its mission.

A useful rule of thumb is that a charitable gift annuity is simpler, while a charitable remainder trust (see below) is more customizable. Someone making a $25,000–$100,000 planned gift might often choose a gift annuity for its simplicity, whereas someone contributing several hundred thousand dollars or more — especially appreciated assets — may find a charitable remainder trust more advantageous because of its flexibility and tax-planning opportunities.

Charitable Remainder Trust
A charitable remainder trust (CRT) is a separate legal trust that is managed by a trustee and can hold a wider range of assets and provide greater flexibility.

It is a trust into which you transfer cash, securities, real estate, or other assets, while retaining an income stream for yourself or other beneficiaries. Depending on the type of trust, the income is either a fixed dollar amount (CRAT) or a fixed percentage of the trust’s value, recalculated annually (CRUT). After the trust ends, the remaining assets are distributed to the charity or charities you have designated.

A useful rule of thumb is that a charitable gift annuity is simpler (see above), while a charitable remainder trust is more customizable. Someone making a $25,000–$100,000 planned gift might often choose a gift annuity for its simplicity, whereas someone contributing several hundred thousand dollars or more — especially appreciated assets — may find a charitable remainder trust more advantageous because of its flexibility and tax-planning opportunities.